har1s1m / time-lock-smart-contract

【Time Lock Smart Contract】This is a solidity smart contract that allows a user to send an amount of ERC20 token to a smart contract that takes custody of the asset for a pre-determined amount of time (e.g. 7 days) and issues a redemption token.

Time Lock Smart Contract

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【Introduction of Time Lock Smart Contract】

• Time Lock Smart Contract

  • This is a solidity smart contract that allows a user to send an amount of ERC20 token to a smart contract that takes custody of the asset for a pre-determined amount of time (e.g. 7 days) and issues a redemption token (that symbol is "RDT" ).
    (A redemption token is similar to liquidity provider tokens in systems like Uniswap).

  • At the end of the pre-determined time window, the contract should allow the user to reclaim the asset using by exchanging the redemption token for the original amount of asset.

 

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Tech stack

• Solidity v0.6.12
• Truffle v5.1.52
• web3.js v1.2.1
• Node.js v11.15.0

 

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Setup

① Install modules

$ npm install

② Run ganache-cli

（Please make sure whether port number is 8545 or not）

$ ganache-cli

③ Compile & migrate contracts

$ npm run migrate:local

④ Test contracts

$ npm run test:local

 

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【Remarks】：Test of the time lock contract

• Using 2 ERC20 Tokens
  • DAI mock token (symbol: DAI) as the original asset.
  • Redemption token (symbol: RDT)

• Default locked period is 7 days
  => Locked period is changed (from 7 days) to 0 second in order to check result as soon as possible. (※ This change is only for test)
  https://github.com/masaun/time-lock-smart-contract/blob/master/test/test-local/TimeLock.test.js#L54-L66

 

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【References】

• Money Dance
  https://www.moneydance.io/ https://moneydance.devpost.com/ https://moneydance.devpost.com/details/resources?preview_token=dMiXFgKLi2UrXFT5QLBQy5STNJs4mFnRfJwrZl%2Bhlgc%3D

• Poly Games
  • Concept of the "Time Lock Smart Contract"：
    https://docs.polyient.games/developer-resources/moneydance-hackathon